Solana (SOL) Price Prediction 2024-2030: Will SOL Price Hit $250 Soon?

• Bullish Solana (SOL) price prediction ranges from $220 to $270.
• Analysis suggests that the SOL price might reach above $258.
• The SOL bearish market price prediction for 2024 is $125.

Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies, Solana (SOL) is one of them.

Solana is an open-source, public blockchain that facilitates the use of smart contracts, decentralized applications (dApps), and NFTs (non-fungible tokens). The SOL token, which is intrinsic to the Solana blockchain, serves as a means of exchange and ensures the safety of the network via staking.

If you are interested in the future of SOL and want to know its predicted value for 2024, 2025, and 2030, keep reading!

Solana (SOL) Real Time Market Status

What Is Solana (SOL)?

Solana is a powerful open-source project that offers DeFi (decentralized financial) infrastructure solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017, and the platform was officially launched in March 2020.

The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain’s underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.

Solana is well-known in the cryptocurrency space due to the blockchain’s incredibly rapid transaction processing. The hybrid protocol utilized by Solana significantly reduces validation and execution times for both transactions and smart contracts. Solana has attracted a great deal of institutional interest due to its blazing-fast processing times. 

The Solana protocol is designed to serve both casual users and large businesses. According to one of Solana’s primary promises, customers will not be surprised by increased fees and taxes, and the protocol creates low transaction costs while ensuring scalability and rapid processing. Solana utilizes proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.

Proof-of-history is essential to the Solana protocol, as it handles most transaction processing. PoH logs successful operations and the interval of time between them, ensuring the blockchain’s lack of trustworthiness. 

The proof-of-stake (PoS) consensus is a monitoring tool for the proof-of-work (PoH) processes, validating each block sequence it generates. Combining two consensus mechanisms distinguishes Solana as a singular phenomenon within the blockchain industry.

Solana (SOL) Current Market Status

Solana (SOL) has a circulating supply of 443,774,126 SOL, while its maximum supply is infinite, according to CoinMarketCap. At the time of writing, SOL is trading at $201.87 representing 24 hours increase of 12.35%. The trading volume of SOL in the past 24 hours is $10,159,625,633, representing a 17.22% decrease.

Some top cryptocurrency exchanges for trading  Solana are Binance, OKX, CoinW, Bitrue, and Deepcoin.

Now that you know SOL and its current market status, we shall discuss the price analysis of  SOL for 2024.

Solana (SOL) Price Analysis 2024

By market capitalization, SOL ranks 4 on CoinMarketCap’s list of the biggest cryptocurrencies. Will Solana’s most recent improvements, additions, and modifications help the SOL price rise? First, let’s focus on the charts in this article’s SOL price forecast.

Solana (SOL) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). Based on the market dynamics the bands either widen or contract. 

When Bollinger bands widen there is more volatility and when they contract there’s less volatility. Since November 2023, Solana has been making higher highs and higher lows. The last portion of SOL’s activity has been in the upper half of the Bollinger bands.

 It has been testing the upper Bollinger bands and was overbought. Since SOL is testing the upper band, there’s a high chance that it could retrace and fall back looking for support from the SMA. The Bollinger bandwidth percentile shows a value of 94 which states that the bands have widened and there is a high chance for it to contract. 

Solana (SOL) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price.

Currently, the RSI reads a value of 88 and it is extremely overbought. In the recent past, the RSI has been making higher highs and higher lows until it reached the overbought zone. Moreover, the red lines in the chart show a divergence where the token went in one direction while the RSI took another direction. 

In particular, SOL made higher highs while the RSI made lower highs. This is a hidden bearish divergence. However, this did not dismantle Solana’s exponential rise. The RSI + Linear Reg indicator used at the bottom of the chart, has bands that move like the Bollinger bands based on the market dynamics. 

The green line is the line that separates the overbought while the red line separates the oversold region from the normal trading range. Currently, the RSI +Linear Reg shows an extremely overbought value. Hence, there could be a price retracement in the future.  

Solana (SOL) Price Analysis – Moving Average Convergence and Divergence (MACD) 

The Moving Average Convergence and Divergence indicators use two exponential moving averages (EMA) to find how the cryptocurrency is doing. Usually, the longer EMA is the 26-day EMA, and the shorter is the 12-day EMA. 

The MACD is found by reducing the 12-day EMA from the 26-day EMA. If the MACD is positive, that means the crypto is performing well, but if it’s negative, then it is losing value.

The above chart shows the MACD line which reads a value of 21. Since it is in the positive region SOL is gaining value. The histogram reads a positive value of 5.85. Hence, SOL is currently performing well. Traders looking to short SOL may need to wait for the MACD to cross below the signal before they take a short position.  

Solana (SOL) Price Prediction 2024

SOL is currently rising exponentially if it continues to traverse along this path, then there is a high chance that it could go above $257 and make new all-time highs. However, based on Solana’s historic behavior, it could be seen that SOL retraced and fell on $125 for support before climbing towards the above-mentioned resistance level. 

Since SOL is currently overbought, there is a high chance that it could retrace and if this isn’t a minute retracement, SOL has the possibility of looking for support at $125. If the $125 support level doesn’t hold SOL from further falling, then it may fall to as low as $16. However, the question is, whether the preceding statement made will be validated in a bullish market full of positive sentiments.   

Solana (SOL) Price Prediction – Resistance and Support Levels

Solana is currently trading at around the Resistance 3 level. If the buyers keep on flocking to the market, there is a high chance that Solana could rise toward the Resistance 4 level. However, there is also the possibility that SOL could fall to Support 1 before it rises. However, if it falls below the above-mentioned support level, then, it may depend heavily on support 2, as a fall below this level would be a fatal one. 

Solana (SOL) Price Prediction 2025

We should expect the price of SOL to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to Bitcoin halving over the previous year. Hence, SOL could end 2025 by trading at around $378.

Solana (SOL) Price Prediction 2026

Since the maximum supply of SOL is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the cost of SOL could break the usual trend and trade at $250 by the end of 2026.

Solana (SOL) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of SOL could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, SOL could trade at $320 by the end of 2027.

Solana (SOL) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Solana (SOL) could hit $375 by the end of 2028.

Solana (SOL) Price Prediction 2028

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of SOL to $604 by the end of 2029.

Solana (SOL)  Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Solana (SOL) to trade at around $542 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Solana (SOL) Price Prediction 2040

According to BTC halving intervals, this would be another BTC halving year. SOL prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $1250 by 2040. If the market turns bullish, the price of SOL could go up beyond what we predicted for 2040.

Solana (SOL) Price Prediction 2050

2050 would be 2 years after the BTC halving in 2048. According to our SOL forecast, the average price of SOL in 2050 might be above $2,000. If more investors are drawn to SOL between these years, the price of SOL in 2050 could be far higher than our projection.

Conclusion

If investors continue to show interest in SOL and add these tokens to their portfolio, then, it could continue to rise up. SOL’s bullish price prediction shows that it could reach the $260 level. 

FAQs

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.